Charitable Giving in Sterling Heights, Michigan

Find the right Charitable Giving attorney in Sterling Heights, MI

In Sterling Heights, Michigan, "charitable giving" involves transferring money or property to an individual or organization, expecting nothing directly in return.

Most charitable donors, while they're alive, give their gifts in the simplest way possible: handing the money or property they wish to donate over to the individual or group they want to help.

Some people want to give a larger percentage of their assets to a charitable organization than would be feasible during life, so they create some type of arrangement under which the money will be transferred upon the donor's death.

If you decide to make a sizable donation to a charity that will not actually occur until after your death, the easiest (and most commonly-used) method is to simply leave the desired amount of money or property to the charitable organization in your will.

Charitable Trusts in Sterling Heights, Michigan

Legal arrangements known as "charitable trusts" are also used to give large amounts of money to charity. It can be used to make the gift immediately, or it can be set to take effect after the donor's death.

While the money, for a time at least, is still technically owned by the donor, it is possessed and controlled by the charity, which acts as a trustee. The trustee is then able to use the money for the charitable purposes which have been laid out in the agreement that first created the trust.

In Sterling Heights, Michigan, a "charitable remainder trust" is the most common kind of charitable trust. This allows the money or property to immediately pass to the charity of the donor's choice, so they can benefit from it as soon as possible. The charity takes the money, and invests it (generally in reliable, but not necessarily high-yield, investments). They keep most of the income that this generates, but return a portion of it to the donor on a regular basis, for a set period of time. When this time runs out, the original donation, along with all the income it will generate, becomes the legal property of the charity, to dispose of as it pleases.

Obviously, if you want to help a good cause, you want to make sure that any charity you donate to is legitimate. Sadly, there are quite a few fraudulent charities out there. The best way to do this is to check and make sure that the charity is registered as a tax-exempt organization with the IRS, and the tax authorities in

Do I Need a Sterling Heights, Michigan Attorney?

If you want to set up a charitable trust, you should first speak with a representative of the charity you want to support. You should also talk with an experienced attorney in Sterling Heights, Michigan, who will be able to help you navigate the legal details, making it easier to give effect to your intentions.

Talk to a Wills, Trusts and Estates Law Attorney now!

Life in Sterling Heights

Sterling Heights, Michigan is an important suburb of Detroit. It is located in Macomb County, about half an hour away from downtown Detroit. The city is most noted as a recipient of various safety awards, and was named Michigan's safest city in 2010. Sterling Heights maintains a "Sidewalk Inspection Program", which utilizes meter readings for reporting hazardous sidewalks conditions.

The local economy of Sterling Heights is stimulated by the presence of over 3,500 industrial and commercial businesses. Major employers in the city include General Dynamics, Visteon, and Detroit Free Press. Of notable interest in Chrysler's Sterling Heights Stamping Plant, the world's largest stamping plant for metals. Sterling Height's close location to Detroit has also attracted several automotive industry companies.

In addition to its diverse economy, Sterling Heights is an excellent city for families. The city holds several very popular events such as Music in the Park, "A Sterling Christmas", and Sterlingfest. Residents can also visit Dodge Park, which serves as host to a number of concerts and events throughout the year.

Lawyers in Sterling Heights, Michigan offer legal service in a wide range of legal fields. They are experienced in a variety of legal matters and disputes. Many Sterling Heights attorneys represent clients in the Macomb County District Court.

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